Raymond James Financial Inc. Invests $701,000 in Tronox Holdings plc (NYSE:TROX)

Raymond James Financial Inc. acquired a new stake in Tronox Holdings plc (NYSE:TROX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 69,653 shares of the company’s stock, valued at approximately $701,000.

A number of other institutional investors also recently added to or reduced their stakes in TROX. Geode Capital Management LLC lifted its holdings in shares of Tronox by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after buying an additional 22,165 shares during the period. Bank of New York Mellon Corp lifted its holdings in Tronox by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after acquiring an additional 551,645 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tronox by 11.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,456,867 shares of the company’s stock valued at $24,741,000 after acquiring an additional 244,646 shares during the period. Private Capital Management LLC boosted its position in shares of Tronox by 0.7% during the 3rd quarter. Private Capital Management LLC now owns 1,161,304 shares of the company’s stock worth $16,990,000 after purchasing an additional 7,530 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Tronox by 7.2% during the 4th quarter. Van ECK Associates Corp now owns 1,142,856 shares of the company’s stock worth $11,508,000 after purchasing an additional 77,146 shares during the period. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Insiders Place Their Bets

In other Tronox news, Director Stephen J. Jones purchased 30,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $7.17 per share, for a total transaction of $215,100.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at $215,100. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group lowered their price target on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial reduced their price objective on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Mizuho lowered their target price on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group cut their price target on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Tronox Stock Down 8.7 %

Shares of NYSE:TROX opened at $5.28 on Friday. The company has a market capitalization of $833.12 million, a P/E ratio of -17.02 and a beta of 1.53. The stock’s fifty day simple moving average is $8.06 and its 200-day simple moving average is $10.49. Tronox Holdings plc has a 52-week low of $5.07 and a 52-week high of $20.70. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. As a group, equities research analysts forecast that Tronox Holdings plc will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 3rd were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.50 annualized dividend and a yield of 9.48%. Tronox’s dividend payout ratio (DPR) is presently -161.29%.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.